This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Some of these commitments have been pre-paid, with additional orders placed with the supplier and mills.Ĭautionary Note Regarding Forward-Looking Statements Casing availability continues to be an industry-wide issue and the Company has taken a proactive stance in ordering for future needs. The Company is situated in a strong financial position and has sufficient cash to undertake advantageous advancements. DME currently has sufficient multiple casing strings by which to drill additional wells as studies are completed and permits are filed and approved. In addition, other helium encounters made by Beam Earth Ltd., internationally or domestically, will become an opportunity for Desert Mountain Energy to participate in. We have a joint technology committee that will work together for planning a three-well drill program to commence around June of 2023. Therefore, a joint venture limits the Company's downside exposure as we prove-up this portion of our findings. is designed in a manner by which we can continue to focus on helium whilst using their hydrogen expertise for future possible joint operations. The Company's decision to work with Beam Earth Ltd. DME's geological team continues to review the findings of our latest well and apply those findings to enhance the previous geophysical and geological modelling. In order to remain efficient, the Company keeps a number of those studies underway. These studies take many months and numerous agencies are required to review and approve the results of those studies. The Company is continuing with previously ordered additional independent archeological and native plant field studies, which are required in advance of permitting with the Arizona Oil & Gas Conservation Commission. Specific component containers will be trucked to the site shortly after their initial runup test is complete so that mechanical and electrical installation can commence. The solar panels will be delivered once the processing site is secure. The fence posts are currently being installed and wire mesh and razor wire are scheduled for next week. Trenching for flow lines is complete with final tie-ins to be completed after the processing facility has been delivered. The zones that are to be isolated are being protected for future possible production combined with the Rohlfing Field wells.
It is anticipated the required workover, gas flow and composition tests will take between 14 to 21 days.
As previously stated in the last press release, the chemical composition (slightly elevated levels of CO 2) of the gas was not compatible with the currently planned processing facility. Once completed, perforation into a different zone where well logs and instrumentation indicated helium, will be performed. We will be conducting a cement squeeze operation on both sets of current perforations in order to isolate them. The workover rig and the required associated equipment are scheduled to arrive next week upon being released from their current work. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.
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